2704-06 N Halsted St
FOR LEASE OR SALE
PRIME RETAIL/PROFESSIONAL OFFICE SPACE
Neighborhood: Lincoln Park
Cross Streets: Halsted St & Diversey Pkwy
COMMERCIAL SPACE: High-profile retail, professional office, and/or restaurant space on the ground floor of newer 5-story 54-unit condo building.
• 7,600 SF with 130’ of frontage, divided into 4 separate spaces
• 2 storefront spaces available for lease (total of 4,100 SF)
➢ ~1,400 SF with 24’ frontage
➢ ~2,700 SF with 37’ frontage
• 2 leased storefronts (3,500 SF, $117,000 net rent)
➢ 1,500 SF leased to Dental Masters since 2004
➢ 2,000 SF on new 10-year lease to Dunkin’ Donuts
• 12’ ceiling height to concrete deck with dropped ceilings at 10’.
DELIVERY CONDITION: For lease spaces were formerly a high-end spa/salon with extensive plumbing. Can be delivered “as is”, as a “vanilla box” or as a “turnkey” space; tenant improvement allowance (TI) or landlord build-out cost to be amortized over initial lease term as additional rent.
PARKING: The property has 6 parking spaces available in a heated garage behind and below the space for $200/mo. per parking space.
ZONING: B3-2 (Community Shopping District), 43rd Ward (Ald. Michele Smith)
USAGE RESTRICTIONS: Bars, nightclubs, massage parlors, and retail packaged liquor stores are not allowed, but restaurants, including those serving alcoholic beverages, are allowed. There are no restrictions on hours of operation.
LOCATION: Located in the heart of the Lincoln Park/East Lakeview commercial district with over 100,000 affluent residents within 1 mile. 1 block south of Diversey Pkwy, 2 blocks west of the Clark/Broadway/Diversey intersection, and 0.3 mi to the Diversey CTA station. Nearby businesses include Home Depot, Guitar Center, Walgreens, Trader Joe’s, Urban Outfitters, and numerous local restaurants and neighborhood businesses.
TRAFFIC COUNTS: 18,700 vehicles per day (VPD) on Halsted St, 16,800 VPD on Diversey Pkwy
Demographics: (2020) 1.0-mi. 3.0-mi.
LEASE RATE: $30 – $35/SF, modified gross
ADDITIONAL EXPENSES: Real estate taxes ($4.70/SF in 2020) are included in the base rent. Tenants are responsible for their share of common area maintenance (CAM) expenses (~$0.50/SF) and their own separately metered gas and electric utilities.
SELLING PRICE: $2,800,000 for entire parcel. $489,000 for vacant 1,400 SF space, $920,000 for vacant 2,700 SF space.
AVAILABILITY: Immediate for “as is” delivery, 30-60 days for “vanilla box” or minor modifications